Dive Summary:

• Beginning Tuesday, coffee company Starbucks will raise its prices on its popular coffee drinks nation-wide on an average of 1%, according to Fox News.
• Despite the decision, the company says that some popular coffee drinks and sizes will not be directly affected by the price increase. "Less than a third of beverages will see a small increase in most stores," stated Lisa Passe, a Starbucks spokesperson.
• Starbucks currently has locations in over 11,000 cities across the U.S. The price increase comes as the cost of coffee beans are at a three-year low.

From the article:

Earlier this month, a Janney Montgomery Scott analyst issued a note to investors saying Starbucks is likely to benefit from lower coffee costs for the next few years. Based on the price of a coffee contract at the time, Mark Kalinowski estimated that Starbucks would pay about half the $1.4 billion it did for coffee in 2012. But Starbucks notes that coffee represents just one of its many costs and historically has accounted for less than 10 percent of overall store expenses.